Tuesday, Sep 21, 2010
What the...?
Greater London Authority: Mayor and HCA (Homes & Communities Agency) to help 1,000 families get a foot on property ladder
Nearly 1,000 families, currently in rented and particularly overcrowded accommodation, will be able to take their first step towards owning their own home in London under plans unveiled today by the Mayor of London, Boris Johnson, and the London Homes and Communities Agency (HCA).
The First Steps for families initiative supports the Mayor’s aim to increase the proportion of family sized homes built for low cost home ownership. It will see up to 1000 new homes made available over the next 3 years to families aspiring to own their new property.
"Today we begin extending the opportunity to those Londoners, who have only ever rented their council or housing association property, to start building up a stake in their new home and fulfilling that dream."
4 Comments
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1. mark wadsworth said...
Drewster, they are all at it. Even Oona King said she'd do something like this if she became Mayor of London. It's all about getting everybody to buy into the Home-Owner-Ist dream to keep the profits flowing for those at the very top.
2. drewster said...
It just seems so pathetic. "Up to" one thousand homes over three years, in a city of several million people. Numbers matter!
Not to mention the fact that it's unfair on those who don't qualify for the scheme. I suppose Boris just wants to be seen to be doing something, next time he is challenged on affordable housing.
3. sibley's b'stard child said...
I guess it depends exactly what 'affordable' means in this context. Are we to assume it's yet more part-buy/part-rent cr*p; no doubt off-loaded by developers that couldn't flog 'em off on the unwitting public?
4. jack c said...
A few related numbers
Sales of social housing to sitting tenants are 16% higher this year than in 2008/09. There were an estimated 8,510 total social housing sales which contrasts with falls in social housing sales in recent years and due to an increase in sales of Registered Provider properties.
There were an estimated 3,100 Right to Buy sales in England in 2009-10, 36% of all sales, a 20% decrease from 2008-09.
Around three-quarters of Right to Buy sales were of Local Authority properties.
A further 2,940 sales, 35% of total sales, were disposals of Registered Provider properties to the private sector.
Other shared equity and outright sales to sitting tenants accounted for the remaining sales.
The average market value of Local Authority properties purchased through Right to Buy in 2009-10 was £101,260.
This produced average capital receipts of £74,610 and an average discount of £26,660 per property.
Registered Provider sales included 90 properties sold through the Right to Acquire scheme, compared to 180 in 2008-09, and 80 through Social HomeBuy, compared to 100 in 2008-09.
SOURCE www.mortgagestrategy.co.uk/1018847.article?cmpid=MSE01&cmptype=newsletter